Lupin Lab shares up on US FDA approval for generic cholesterol drug

Niacin's US sales are $1.2 billion,out of which Lupin can make $30 million in sales annually.

Written by Reuters | Mumbai | Published: January 1, 2014 12:16 pm

Shares in Lupin gain 1.6 per cent after US Food and Drug Administration (FDA) gave a tentative approval for generic version of cholesterol drug niacin,a form of vitamin B,on Monday.

Analysts tracking the sector say niacin’s US sales are $1.2 billion,out of which Lupin can make $30 million in sales annually.

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